The late Sir John Templeton was a pioneer in both financial investment and philanthropy. He spent a lifetime encouraging open-mindedness, and he once said that if he "had not sought new paths" he "would have been unable to attain so many goals". Having himself been a Rhodes Scholar at The University of Oxford, Sir John appreciated the value of investing in the education of the younger generation.

The Sir John Templeton Memorial Scholarships are funded annually by Templeton World Charity Foundation, Inc. and administered through the Lyford Cay Foundation in The Bahamas. Four annual scholarships can be awarded to Bahamian students at a graduate level, which are worth up to $20,000 each. Two of the scholarships are awarded for study in business and two for study in theology. These highly competitive scholarships require two compulsory short essays including one on Sir John’s book, ‘Worldwide Laws of Life’.